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TrendFollower

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Everything posted by TrendFollower

  1. The speed in such moves is crazy. Bitcoin is trading back at $9000 at the time of writing. I have never personally experienced volatility like this on any other asset I have either traded or invested in.
  2. I have included in the chart (above) moving averages, momentum and volume for Bitcoin on a 4 hour chart.
  3. I have been trading Cryptocurrencies since Bitcoin was around the $2000 levels and I must admit that this correction feels a lot larger than all the previous and more violent in its speed.
  4. , I tend to agree at this stage. I think the way the price action is behaving on Bitcoin then $6,000's is a strong possibility. I think it may even touch the latter $5,900's.
  5. At this rate Bitcoin is heading for the $6,000 level and could even touch the late $5,900's. As I posted on a different discussion, this could lead to people piling into Cryptos as they perceive they are getting 'value'. This could be the trigger for the next monumental rally as the sellers then become buyers again and off we go. Rinse and Repeat cycle. This is profit optimisation and maximisation. You go long and make profits. You then go short and make profits. You then just keep repeating this and there is no need to day trade. This is more like 'Quarter Trading'.
  6. Yes you are right . Ether has finally gave in. I mean at the time of writing Ether is $785.00. There could be a fantastic buying opportunity coming which could be the trigger for the next monumental rally in Crypto's as people rush to get what they perceive as 'value'.
  7. IG are a business and their aim is to increase their turnover and thus increase their profits. They provide a service and platform for people to trade and provide an opportunity for people to make profits and losses. They do not themselves give investment or trading advice. They do provide educational support via their website. If PIA want to post some analysis which is at present mainly for FX traders then there is no problem in my opinion. Why should , or even myself TrendFollower's posts be any more credible or of better quality than say PIA's? PIA have just as much right to post than any of us. In fact I agree with that at least their posts are professional. What if people started saying that they did not want to see posts with the same message and the same K.I.S.S appearing time and time again? I think the best way is to let everyone post as long as it is professional, polite and not rude or offensive to anyone else. We must all bear in mind that the IG Community is worldwide so there must be healthy discussion and debate.
  8. Any ideas of where Bitcoin will end up? It really is anyone's guess as Bitcoin may not follow conventional wisdom when it comes to charts and technical analysis. From a technical perspective, the Bitcoin price went down lower after going below a short-term triangle consolidation pattern. At the time of writing the price is $7900 and is testing support level at the bottom of its falling wedge pattern which you will be able to see on the 4-hour charts. I tend to favour the 4-hour charts but this is personal preference. I know some prefer others. There is a suggestion that Bitcoin may test the $10,000.00 mark but I am not so sure it will anytime soon unless there is a mammoth bounce. From a trend following perspective, the moving averages clearly suggest there could be further downside. Also some of you may have noticed the gap between the moving averages is widening. This to me shows stronger selling pressure. If you use the moving averages tool on IG's platform then you will see that the 100 day moving average is still below the 200 day moving average. Now this to me suggests that they may be more selling before any reversal. I think due to the negative media stories it has caused more and more people to physically sell their holdings. This in my opinion has amplified the sell off.
  9. Then all you have to do is ignore PIA's analysis and not read it. This will save you time. K.I.S.S.
  10. At this rate Bitcoin could easily go down to $5000 levels. That level may entice new buyers who were on the sidelines that may think they are getting better value. Of course the sellers then may also become buyers again. Anything is possible and who knows. Right now the smart money is shorting Bitcoin with leverage and maximising profits on the way down as that is what the price action and behaviour is indicating right now. Also a lot of 'stops' are most probably being triggered amplifying the downwards move. This correction was coming and we all knew it would be a big one but this just shows how big and quick the move down is. There is no messing around when it comes to Cryptocurrencies. Those who do not have stop losses will make bigger losses and those who do not sell or do not short cannot be maximising the profit opportunities in Cryptocurrencies. To trade Cryptocurrencies, shorting must be part of the trading plan, even if you do have a longer time vision of them being a higher price. I still think there is every chance that there will be another monster rally in Cryptocurrencies and there may be new coins making big returns like Stellar and others. Who knows. Time will tell.
  11. Though I appreciate where is coming from I think the PIA stuff sits best in the separate new FX section. PIA do not force anyone to accept their analysis. One could argue that it could influence new and inexperienced traders to just follow PIA's advice rather than do any research and monitoring themselves. From memory, PIA, do put some sort of note / disclaimer on each of their analysis. It is up to each IG client whether or not to follow the advice and analysis of PIA. There is no harm in getting a more professional and possibly qualified view point on FX trades. It does not affect me as I do not trade FX but for those who do it may prove useful and potentially beneficial. They may even learn something.
  12. I am asking what your thoughts are about the article which you posted and shared. Would you use such information in your decision making? I will stick my neck out and write that I would not without seeing any credible evidence to support such a view. Thanks for the link for the full paper it is not something that I would look to purchase but have you purchased and read it? If so then does it state how many stocks were included in any research they conducted? How large or small were these stocks? How many people's tweets they looked at? Thanks again Maple Syrup TrendFollower
  13. To me the gold chart is looking a bit wobbly. It does not know what it wants to do. Usually economic and political factors influence the gold price. Also when stock markets around the world start declining then that too can have a positive influence on the price of gold. For gold investors I think it is about patience and holding. It is a defensive asset after all.
  14. Oilfxpro, your charts look more complicated than your simple trade ideas. Surely if the idea is to keep things simple then the charts should be simple too. Let me try and assist. From a trend following perspective, if one wanted to keep things very simple then look at the price action and determine whether the trend is suitable for a 'long' position or 'short' position. One must feel comfortable shorting and have the mindset to do so. Look at the volume and try and gauge the liquidity of the asset you are about to trade. Have a look at the strength of the trend. Use Moving Averages like 20 day, 50 day and 100 day. I also use 200 day as well. Make a decision. Ensure there is a stop loss / trailing stop in place. Risk management is key. The chart to show this is also very simple too. Obviously, I would urge traders to do more than this before making an informed decision. I am merely providing an example. I would not suggest that the above is the best method to enter a trade. It is to give an example of how a simplistic trade could look like compared to complex and numerous charts.
  15. , articles like those can be mis-interpreted by many people differently. There are thousands of stocks. Apparent is a strong word. For which stocks is there an apparent positive correlation between a stocks tweet activity and its share price? How many stocks are included in this study? I was referring to chart posted by Elle as well. Bottom line, is there any credible evidence to support this? Who would rely on such information before making a trading decision? Price is king. Let the price action determine what action you take. The price behaviour of a stock will help assist in your decision making regardless of what reports come out, what the media reports, etc. What are your thoughts on the article? Would you use such information in your decision making?
  16. If you look at the 4 hour chart then the rise to gold came well before the 'bloodbath' we are witnessing in cryptocurrencies. There were suggestions in the media that when cryptocurrencies crash that the capital is going to shift straight into gold. The 4 hours charts for both gold and cryptocurrencies do not suggest this to me. The question is will this capital simply stay on the sidelines or be re-invested back in cryptocurrencies at a lower price? As for gold, I agree that from the charts it looks like it is due for another breakout. I think with Brexit uncertainties, we could see gold rising for the next 12 months (albeit slowly) but rising until it is known how the UK is going to exit the EU. Add Trump uncertainties and you can see money coming into gold on those two points alone from the UK and US perspectives.
  17. I trade and invest mainly in micro and nano caps. I don't tweet so I would not know.
  18. Elle, The chart you have posted does not necessarily evidence that retail traders can move the price of say a FTSE 100 company. The chart is showing that returning trading is at its highest levels ever. That does not necessarily mean retail trading has any significant bearing on the price behaviour of the shares of large caps. TrendFollower
  19. From my experience small investors who discuss on social media do not move share prices. Institutional money moves share prices or a group of larger 'high net worth' individuals can move the micro nano cap space. For example, a FTSE 100 company's share price cannot be moved by a group of smaller investors. Those investors who have time to tweet and discuss the stock market have no real impact in terms of share price movements certainly for large caps.
  20. I have noticed the last few times Cryptos have had a 'bloodbath' Lumber seems to perform admirably. At the time of writing it is 500 points up. Lumber is known as a defensive asset and performs rather well during recessionary periods or when there is economic downturns. I shall be keeping a close eye on the price of Cryptos and Lumber to see if any patterns emerge.
  21. Looking at all the Cryptocurrencies that the IG platform offers it is obvious that year to date, Ether, has shown the most resilience and strength compared to Bitcoin, Bitcoin Cash, Bitcoin Gold, Ripple and Litecoin. If you look at the charts, especially the 4 hour charts for Bitcoin, Ripple and Litecoin then one can see similarities. Ether's chart looks more promising. It seems that Ether has diverged paths from the other Cryptocurrencies. It is like it has an 'edge' against them. Maybe it is the platform itself, Ethereum, or even the 'Smart Contracts' and Blockchain possibilities for companies wanting to adopt the technology but one thing is for sure, it has something that the others don't in times such as what we are witnessing in terms of price action and behaviour of Cryptocurrencies in general. Such is the madness that after my post, Ether, could also decline and the trend could reverse. Who knows but Ether has shown more strength so far whatever the reason may be.
  22. India is the second largest country in the world after China in terms of population. It is reported that 10% of total Bitcoin trades on exchanges happen in India. I am not sure if that is true but that is what has been reported. https://qz.com/1195316/budget-2018-busts-bitcoin-arun-jaitley-has-just-killed-indias-cryptocurrency-par
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